'The collaboration and partnerships we have established with the Indian government's Department of Science and Technology, the Federation of Indian Chambers of Commerce and Industry, the Indo-US Science and Technology Forum and the IC2 Institute, have led to national acceptance for the programme, making it eagerly anticipated by India's growing numbers of inventors and innovators.

'We continue to be impressed with the tremendous spirit for invention and innovation that exists here and are committed to a long-term relationship with India,' Johnson added.

According to H.K. Mittal, advisor and head of the DST's National Science and Technology Entrepreneurship Development Board (NSTEDB), 'innovation has emerged as an important common instrument in the hands of entrepreneurs, corporate sector and the policy makers that is capable of positively affecting the lives of humanity.

'While it is useful when applied by each of these sectors, individually but when used in synergistic manner and in partnership it leverages the strengths of each partner significantly. The public private partnership established for the India Innovation Growth Programme is a successful example of building on the strengths of each partner,' Mittal added.

Arabinda Mitra, executive director of the Indo-US S&T Forum, said: 'The India Innovation Growth Programme is an example of seamless public-private partnership model designed to foster an ecosystem that encourages innovation and creativity in India by nurturing and promoting promising early-stage technologies to find markets in India, US and around the world.'